. Jay Cooke : financier of the Civil War . ^—/ft? *ok. <gy <^ &&?*<<?^*@r f<&t). Ooo. Ooo s4/~2/. A BILL AND RECEIPT FOR JAY COOKES COMMISSIONS 512 JAY COOKE fully, that an increase of }i over your present commission wouldgive you $662,500, and he had concluded that half of that sum,$331,250, was a liberal allowance to cover the extra expenditurewhich you proposed, especially as it involved no increase in therate of commissions paid by you. Against this I urged thatafter the certificates of indebtedness were taken up and the float-ing vouchers and suspended requisitions paid, et
. Jay Cooke : financier of the Civil War . ^—/ft? *ok. <gy <^ &&?*<<?^*@r f<&t). Ooo. Ooo s4/~2/. A BILL AND RECEIPT FOR JAY COOKES COMMISSIONS 512 JAY COOKE fully, that an increase of }i over your present commission wouldgive you $662,500, and he had concluded that half of that sum,$331,250, was a liberal allowance to cover the extra expenditurewhich you proposed, especially as it involved no increase in therate of commissions paid by you. Against this I urged thatafter the certificates of indebtedness were taken up and the float-ing vouchers and suspended requisitions paid, etc., the govern-ment wouldnt want the 100 millions per month and it wouldbe impossible to continue at that rate to the end of the loan be-cause the government disbursements would cease in a greatmeasure, contraction in money markets would follow, and sub-scriptions fall off, etc. But he considered the additional 1-16 aliberal concession and of course we couldnt refuse it. The panic in the stock and bond markets preventedthe execution of this contract and Mr. Cookes servicesin Wall Street had been so valuable
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